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NEW YORK – Frontier Airlines said Wednesday it will keep all 70 planes in its fleet and is making payments to stay current on leases and financing agreements.
NEW YORK – Frontier Airlines said Wednesday it will keep all 70 planes in its fleet and is making payments to stay current on leases and financing agreements.
Denver-based Frontier Airlines Holding Inc., which owns the carrier, filed for Chapter 11 bankruptcy protection in April. The carrier was allowed to suspend payments on its aircraft for 60 days after the filing but then had to decide whether to maintain the leases and contracts.
Frontier spokesman Steve Snyder says the airline had to make the payments or the lender could have taken the planes. He declined to say how much the carrier paid to get up to date.
Frontier Airlines announces new fee and policy changes
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Over $200 Million in Cost Saving Actions for Sabre
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Sabre quietly sold Airpas Aviation, a software provider and consultancy company, to Ventiga Capital Partners, a private equity firm, earlier this year.
Ventiga, the new backer of Airpas, said on Tuesday it had merged the company with FuelPlus Group, which offers software for airlines to administer jet fuel usage the largest cost center for most carriers. The private equity firm plans to support additional acquisitions. Its goal is to build a travel tech group focused on airline cost management via cloud-based software.